2014 Credit Card Debt Statistics: See How You Fare (Pt. 2)

April 20, 2015

Resuming 2014 Credit Card Debt Statistics: See How You Fare (Pt. 1), here, we will wrap up this discussion by taking a look at the amount of credit card debt the average U.S. consumer is currently carrying.

More Fascinating 2014 Credit Card Debt Statistics

Did you know that the average U.S. household has $15,600 in credit card? If you are drowning in debt, contact our Denver bankruptcy attorney for effective help getting a financial fresh start.

Did you know that the average U.S. household has $15,600 in credit card? If you are drowning in debt, contact our Denver bankruptcy attorney for effective help getting a financial fresh start.

The following statistics have been compiled based on data from the U.S. Federal Reserve, as well as other credible institutions.

  • The average U.S. household has just over $15,600 in credit card debt (for the homes that have this type of debt).
  • This amount of credit card debt typically represents about half of what these households owe in student loans and approximately ten times what is owed in mortgage debt.
  • When compared with the numbers from 2013, the average consumer saw more than a 3 percent increase in his or her total credit card debt.
  • Generally, when consumers are able to pay off their credit card balances in full on a monthly basis, they tend to charge between $1,000 and $1,100. When consumers carry balances from month to month, the average balance carried (on a given card) is about $7,700.
  • From 2013 to 2014, Colorado was among the top three states of those where consumers were able to decrease their overall credit card debt (by about 1.3 percent).
  • In contrast, the states with the largest year-after-year increases in credit card debt (from 2013 to 2014 specifically) included Vermont, West Virginia and Virginia.

What do you think about these credit card debt statistics? Share your comments and thoughts with us on social media – and contact us if you need help getting out from under serious credit card debt.

Denver Bankruptcy Attorney Jon B. Clarke Can Help You

If you are overwhelmed by seemingly insurmountable debt and are looking for a financial fresh start, contact the trusted Denver Bankruptcy Attorney Jon B. Clarke for experienced help pursuing your best debt relief option.

For more than 35 years, Mr. Clarke and his diligent support staff have been successfully helping our clients resolve even the most complex bankruptcy cases for individuals and businesses alike. Our experienced legal professionals are committed to providing each of our clients with the personalized debt relief assistance they need, and we will work tirelessly to ensure that our clients’ cases are resolved as favorably and efficiently as possible.

Contact Us Today

To get answers from an experienced and esteemed lawyer, contact us today. We encourage you to complete our Business or Consumer Debtor Analysis Form. You can also get answers from Denver Bankruptcy Attorney Jon B. Clarke by calling our firm at (866) 916-3950 or by emailing us using the contact form on this page.

From our offices based in Denver, Castle Rock and Greenwood village, we take pride in providing people throughout the state of Colorado with the highest quality debt relief legal services.

Categories: Blog, Credit Card Debt